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Federal Budget (U.S.)

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  • Initial Jobless Claims Show Surprising Drop Thursday, 10 Jul 2008 | 10:04 AM ET

    The number of U.S. workers filing new claims for jobless benefits dropped by a much bigger-than-expected 58,000 last week to 346,000.

  • Conservation Having Little Effect on Gasoline Prices Wednesday, 9 Jul 2008 | 2:04 PM ET

    Though they have finally begun using less gasoline, US consumers remain pretty much powerless to contain prices at the pump.

  • Pieces in Place to Reduce Oil Price: Schork Wednesday, 9 Jul 2008 | 9:37 AM ET

    Fundamental pieces are in place for the lowering of oil's price, but until the dollar appreciates and speculators stop betting up the commodity it will remain at high levels, Stephen Schork, editor of The Schork Report, said on CNBC.

  • EIA: Gas Prices to Stay Above $4 For Rest of 2008 Tuesday, 8 Jul 2008 | 12:57 PM ET

    Gasoline prices will remain above $4 a gallon for the rest of the year, while oil prices will continued to be pressured by the tight market for crude, the U.S. Energy Information Administration said on Tuesday.

  • Wholesale Inventories Post Slight Rise in May Tuesday, 8 Jul 2008 | 10:04 AM ET

    U.S. wholesale inventories rose 0.8 percent in May, just slightly more than expected, but a measure of how long it would take to sell current stocks fell to a record low on strong sales of apparel and petroleum, a Commerce Department report showed on Tuesday.

  • Fed's Yellen Says Rate Policy at Crossroads Monday, 7 Jul 2008 | 12:00 PM ET
    Janet Yellen

    U.S. interest rate policy is "nearing a crossroads" now that worst-case scenarios for growth have been skirted by the Federal Reserve's aggressive string of rate cuts, San Francisco Fed President Janet Yellen said Monday.

  • Bush Backs Strong Dollar Policy Sunday, 6 Jul 2008 | 7:57 AM ET

    U.S. President George W. Bush said on Sunday the American economy was not growing as quickly as he would like and that his administration supported a strong U.S. dollar policy.

  • Meet the Newest Face on The Board of Governors Thursday, 3 Jul 2008 | 4:07 PM ET
    Elizabeth Duke

    The Democratic-led Senate approved the newest member of the Federal Reserve’s System Board of Governors last Friday, making Elizabeth A. Duke the seventh woman to become a member of the board since the board was formed in 1913.

  • Don't Blame the Dollar for Oil Prices: Paulson Thursday, 3 Jul 2008 | 7:12 AM ET
    Henry Paulson

    A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin spectres of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said on Thursday.

  • Economy Expected to Shed Jobs for 6th Straight Month Thursday, 3 Jul 2008 | 4:45 AM ET

    Payrolls likely dropped by 60,000 in June, while the jobless rate is expected to have fallen to 5.4 percent from 5.5 percent in May.

  • Economy Downturn Bigger Worry Than Prices: Paulson Thursday, 3 Jul 2008 | 3:17 AM ET

    The downturn in the economy is a greater worry than inflation at the moment, U.S. Treasury Secretary Henry Paulson said on Thursday.

  • Paulson: Oil, Falling Home Prices to Prolong Slowdown Wednesday, 2 Jul 2008 | 11:55 AM ET
    United States Treasury Secretary Henry Paulson

    U.S. Treasury Secretary Henry Paulson said on Wednesday that high oil prices, further home price declines and capital markets turmoil will prolong the American economy's slowdown.

  • Fed's Lockhart Drops Hint of Rate Hike Wednesday, 2 Jul 2008 | 5:17 AM ET

    The Federal Reserve must "react decisively" to stop inflation from pushing up wages, one of its top policy-makers said Tuesday, dropping a clear hint about the possibility of interest-rate hikes ahead.

  • Sam Zell: Oil Prices Will Spark Mass Conservation Friday, 27 Jun 2008 | 9:58 AM ET

    Consumers will respond to soaring oil prices with mass conservation measures, investor Sam Zell said Friday on CNBC.

  • Consumer Spending Rises; Key Inflation Gauge Tame Friday, 27 Jun 2008 | 8:38 AM ET

    U.S. personal spending rose by a more-than-expected 0.8 percent in May as government stimulus checks bolstered household budgets, while a key gauge of inflation stayed tame.

  • Let Big Brokers Fail; Buy Gold Not Oil: Marc Faber Friday, 27 Jun 2008 | 6:25 AM ET

    The Federal Reserve should let the big investment banks go bust if they made unwise investment decisions, and investors should take refuge into gold, said Marc Faber, editor and publisher of "The Gloom, Boom & Doom Report."

  • 'Prolonged Slowdown' Coming: BoNY Mellon President Friday, 27 Jun 2008 | 3:22 AM ET

    The global economy will struggle more than people now think, as the credit crunch spreads beyond housing and financials, Gerald Hassell, Bank of New York Mellon president, told "Squawk Box Europe" Friday.

  • Fed's Next Move? The Answer's In The Action Wednesday, 25 Jun 2008 | 3:57 PM ET

    Before getting into the nuances of the statement, it’s important to not lose sight of the overall action: for the first time since the Fed began cutting rates in September — by 3.25 percentage points in total — the Fed stood pat today. That is probably a clearer indication of what the Fed will do next than anything the Fed said.

  • Gross: Fed Will Hold Steady for Rest of Year Wednesday, 25 Jun 2008 | 3:20 PM ET

    The Federal Reserve will hold its key interest rate at 2 percent for the remainder of the year as the economy winds through the various challenges it faces, according to bond manager Bill Gross.

  • Durable Goods Orders Regain Their Footing Wednesday, 25 Jun 2008 | 9:50 AM ET

    New orders for long-lasting U.S. manufactured goods were unchanged in May after two consecutive months of decline.